There is a First Time for Everything
My daughters are at that delicate age; ready to buy their first home! In Victoria this year, it isn’t an easy task. Prices are rising and the demand for properties far outweighs the supply.
As you can imagine, I’m working on it! As a first time buyer, there are things you can do to make the task a little easier. Make like a scout and be prepared!
The first priority is to get your financing in order. There isn’t any point in looking at properties that are beyond your means; it just leads to disappointment and frustration. Mortgage money isn’t the only thing you will need to be concerned with when it comes to the costs involved in owning a home. I believe there is a difference in how we should view the monies involved. Your mortgage is financing your INVESTMENT and something you can expect a return on at some point in your life.
The expenses incurred in obtaining this major asset are the COST of acquiring property. Once you have your financial parameters in place you can begin researching your requirements. I like to sit down with new buyers and lay out a profile for their consideration. We discuss lifestyle, careers, family and how those activities interact with their needs.
There is something for everyone in the Greater Victoria area. My job as a Real Estate Professional is to add clarity and direction to your search. The Canadian Association of Accredited Mortgage Professionals estimates that the average Canadian will own 4.5 to 5.5 homes in their lifetime.
Unless you are buying, fixing, and selling your primary residence, these moves will cost you money! We gain more by establishing ourselves; finding a home that suits the present and has potential for the future. Research, patience,and perseverance are your keys to success in acquiring the home you deserve!